Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Agaguk24]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

Part of the BTC centralization problem is the aspect that nobody outside China can make deep changes to the Bitcoin network. Last time I checked, they still like their block sizes, small.

I am afraid BTC price will remain the same way, too.

[dumbfbrankings]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

Antpool is mining ...7kb blocks.

https://blockchain.info/block-height/416287

Found 35 seconds after previous block.

https://blockchain.info/block-height/416298

Found 92 seconds after previous block.

https://blockchain.info/block-height/416302

Found 23 seconds after previous block.



An expert like you should really know about why these happen by now.

Oh, you're just using it as propaganda against the guy who is calling Maxwell's bluff on the 2017 HF.... carry on then.

[nioc]

buying now is like banging two hotties in your living room, while your wife is out shopping for an undertermined amount of time.

DANGEROUS and FUN!

 

Buying anywhere in the $600s is probably not a bad entry point for BTC newbies for the coming months.  

Sure, we could go to $580 or so, but the trend definitely seems up, and even going into the lower $600s, such as in the $620s doesn't seem too likely in the near term.  In other words, I think that it is more likely from here that we hit $750 before we hit $610... then that is the big test in the $750 to $850 price range.  If we go above $850, it is likely all over BAAAAAAMMMM... $3k plus...  On the other hand, after entering into the $750 to $850 range, we could have a bit of a price battle, and then sub $600 prices could then again become reasonable expectations, if the bears win that battle in the short run...

I think that a lot of us BTC holders are feeling good at the moment, no matter which way this price thing goes, because we should be able to take some profits in this current price range (if we want), while still having some potential to stack up some bitcoins in order to prepare for the reasonably feasible (but not guaranteed) path upwards.

the bearish case:

weak hands are holding profitable trades, they are likely to exit their position prematurely. poeple get nervous during a correction and start taking profit as it drops, at 620 they are still profitable + they are nervous as hell; 700 to 620 is one hell of a drop, and that'll make most poeple sick... they will DUMP and take profits at 620 in a panic, so we might see 599 briefly and then go back up as this false sense of panic dies down and the weak hands have been shaken out.

but seeing how 599$ is a bit of a pipedream ( are we Actually going to see a bunch of newbie take profit in a panic? probably not... newbies got POWN 3 months ago ) .... 600's is a Gr8! entry point.

Confirmed!!!  Cheap Coins!!!

[AlexGR]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

Antpool is mining ...7kb blocks.

https://blockchain.info/block-height/416287

Found 35 seconds after previous block.

https://blockchain.info/block-height/416298

Found 92 seconds after previous block.

https://blockchain.info/block-height/416302

Found 23 seconds after previous block.

An expert like you should really know about why these happen by now.

Oh, you're just using it as propaganda against the guy who is calling Maxwell's bluff on the 2017 HF.... carry on then.

Others were closer than ...92 seconds but were still 1mb.

416265 (Main Chain)   2016-06-14 11:32:20   Slush      998.17
416264 (Main Chain)   2016-06-14 11:31:45   BTCC Pool      996.18

416272 (Main Chain)   2016-06-14 12:49:47   F2Pool      999.94
416271 (Main Chain)   2016-06-14 12:49:03   F2Pool      999.89

416309 (Main Chain)   2016-06-14 19:42:41   HaoBTC      997.42
416308 (Main Chain)   2016-06-14 19:42:12   AntPool      998.07

416313 (Main Chain)   2016-06-14 20:17:16   F2Pool      1,000
416312 (Main Chain)   2016-06-14 20:15:43   F2Pool   999.72


...so... there you have it.

Btw, the argument is not in your favor: If there are propagation issues even with 1mb that prevent miners from mining txs, then we either need a much better propagation system, much faster verifications or ....smaller blocks... Bigger blocks without altering the other components doesn't compute.

[Fakhoury]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

I like your sanity as well

[savetherainforest]

"a few million satoshis" ... that seems to become a norm and not sound like an aberration when said out loud.  

Aren't most of us satoshi multi-billionaires?

 

Are you fishing to find out if I'm a trillionaire?  

I think we might see a second drop tomorrow.

My astrologist told me to feel confident in the power of making money no matter the weather! ... Does that advice applies to you as well?  

[dumbfbrankings]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

Antpool is mining ...7kb blocks.

https://blockchain.info/block-height/416287

Found 35 seconds after previous block.

https://blockchain.info/block-height/416298

Found 92 seconds after previous block.

https://blockchain.info/block-height/416302

Found 23 seconds after previous block.

An expert like you should really know about why these happen by now.

Oh, you're just using it as propaganda against the guy who is calling Maxwell's bluff on the 2017 HF.... carry on then.

Others were closer than ...92 seconds but were still 1mb.

416265 (Main Chain)   2016-06-14 11:32:20   Slush      998.17
416264 (Main Chain)   2016-06-14 11:31:45   BTCC Pool      996.18

416272 (Main Chain)   2016-06-14 12:49:47   F2Pool      999.94
416271 (Main Chain)   2016-06-14 12:49:03   F2Pool      999.89

416309 (Main Chain)   2016-06-14 19:42:41   HaoBTC      997.42
416308 (Main Chain)   2016-06-14 19:42:12   AntPool      998.07

416313 (Main Chain)   2016-06-14 20:17:16   F2Pool      1,000
416312 (Main Chain)   2016-06-14 20:15:43   F2Pool   999.72


...so... there you have it.

Btw, the argument is not in your favor: If there are propagation issues even with 1mb that prevent miners from mining txs, then we either need a much better propagation system, much faster verifications or ....smaller blocks... Bigger blocks without altering the other components doesn't compute.

The decision of whether or not to risk an orphan that soon after a found block is up to the individual miner, doesn't bother me in the slightest. I also wouldn't care if miners individually decided to use 750 kB as their maximum size. My problem is with Blockstream using the 1 MB max as a tool for central economic planning.

Honestly, I'm caring less and less about it these days tho. Bitcoin doesn't have a monopoly on cryptographic value transfer and it will be cathartic to see Blockstream and their enablers (that's you) learn that the hard way. 

[savetherainforest]

The West feels bullish, and follows China like a clueless puppy! But China lately seems to drive a hard bargain.

The West with calm and tact in their submarine, awaits that order from the president with the nuclear launch codes to release the impatient rockets.

[JayJuanGee]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

You are deluded if you believe that BTC upwards price movements are dependent upon meaningful progress being made towards an actual hard limit increase or a hardfork proposal. 

More or less a large number of folks have come to realize that bitcoin is not broken, and the made up issue regarding lack of scaleability was a kind of ploy to either keep prices down or to debilitate bitcoin through an attempted change of governance.  Anyhow, price are going to largely move independent of those kind of attempts at FUCD spreading...   whether price moves up or down will be more a product of how much resistance is achieved in the $750 to $850 price arena, rather than some of the inflated scaling hardfork nonsense.. that seg wit should sufficiently address and other subsequent considerations will also adequately address any semblance of actual scaling issues.

[MingLee]

I don't know how many of your guys remember what happened years ago, but there were a lot of people that bought Bitcoin for $68X+ to $700, and there are a lot of people that are going to want to sell their Bitcoin and get their money back. Small dips at this point are somewhat expected, and the market will be relatively stagnant around this point. All the old coins will have to be sold off before the price keeps moving upwards.

[JayJuanGee]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

I like your sanity as well

Fakhoury.. .you are agreeing with a guy who is attempting to spread FUCD.. in order to inflate some kind of issue that is either non-existent or barely existent, even though a lot of folks want to scream about it in order to attempt to debilitate bitcoin into some kind of play toy of the banksters... make it like paypal or Ethereum that can be changed whenever you like.

[yefi]

I don't know how many of your guys remember what happened years ago, but there were a lot of people that bought Bitcoin for $68X+ to $700, and there are a lot of people that are going to want to sell their Bitcoin and get their money back. Small dips at this point are somewhat expected, and the market will be relatively stagnant around this point. All the old coins will have to be sold off before the price keeps moving upwards.

Probably a lot of people in that range who panic sold on the way down too. It's still an important area, but it may not be the hurdle you imagine.

For altcointalk there is a dedicated sub, so please:
https://bitcointalk.org/index.php?board=67.0

Mods will delete altcoin spam in this thread if it's reported also.

[dumbfbrankings]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

I like your sanity as well

Fakhoury.. .you are agreeing with a guy who is attempting to spread FUCD.. in order to inflate some kind of issue that is either non-existent or barely existent, even though a lot of folks want to scream about it in order to attempt to debilitate bitcoin into some kind of play toy of the banksters... make it like paypal or Ethereum that can be changed whenever you like.

Fun fact 1: JayJuanGee keeps all his bitcoin as an entry on an exchange's database while droning on about censorship resistance and the magic nature of the 1MB limit. He doesn't run a node, never has. He's also immune to the irony of this situation.

Fun fact 2: Ethereum is secured by miners, a more decentralized group of miners than Bitcoin too. Changes can't be made to it unless miners agree and run the software that makes the change, same as BTC. Claiming otherwise is spreading FUCD (whatever the fuck that is).

Fun fact 3: When/if Blockstream is able to drive the majority of transactions off chain to LN type payment networks... the well funded and well connected will be running lightning hubs and siphoning fees away from miners, read: centralization and lack of funding for mining security.

[Fakhoury]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

I like your sanity as well

Fakhoury.. .you are agreeing with a guy who is attempting to spread FUCD.. in order to inflate some kind of issue that is either non-existent or barely existent, even though a lot of folks want to scream about it in order to attempt to debilitate bitcoin into some kind of play toy of the banksters... make it like paypal or Ethereum that can be changed whenever you like.

Maybe I didn't read most of what ImI posted but the above post didn't seem FUD for me, tell me please what I've missed ?

[USB-S]

Fun fact 1: JayJuanGee keeps all his bitcoin as an entry on an exchange's database while droning on about censorship resistance and the magic nature of the 1MB limit. He doesn't run a node, never has. He's also immune to the irony of this situation.

Fun fact 2: Ethereum is secured by miners, a more decentralized group of miners than Bitcoin too. Changes can't be made to it unless miners agree and run the software that makes the change, same as BTC. Claiming otherwise is spreading FUCD (whatever the fuck that is).

Fun fact 3: When/if Blockstream is able to drive the majority of transactions off chain to LN type payment networks... the well funded and well connected will be running lightning hubs and siphoning fees away from miners, read: centralization and lack of funding for mining security.

1. you don't know shit about other peoples hodlings.

2. Miners agree to any change Vitalik makes. Doesn't matter if it will end up breaking or making ethereum. Also rolling out huge changes to the protocol isn't something to be proud of. It shows the lack of immutability.

3. How do we measure the level of centralization or decentralization in anything. If LN is going to be harmful for the scaling of bitcoin then people aren't going to use it.

[dumbfbrankings]

Fun fact 1: JayJuanGee keeps all his bitcoin as an entry on an exchange's database while droning on about censorship resistance and the magic nature of the 1MB limit. He doesn't run a node, never has. He's also immune to the irony of this situation.

Fun fact 2: Ethereum is secured by miners, a more decentralized group of miners than Bitcoin too. Changes can't be made to it unless miners agree and run the software that makes the change, same as BTC. Claiming otherwise is spreading FUCD (whatever the fuck that is).

Fun fact 3: When/if Blockstream is able to drive the majority of transactions off chain to LN type payment networks... the well funded and well connected will be running lightning hubs and siphoning fees away from miners, read: centralization and lack of funding for mining security.

1. you don't know shit about other peoples hodlings.

If he has one redeeming quality... it's that he's honest enough that he won't deny it. He's admitted it before, and doesn't claim otherwise when I remind him. I would stop saying it if he would simply type that he runs a node and doesn't keep all his coins on exchanges.

2. Miners agree to any change Vitalik makes. Doesn't matter if it will end up breaking or making ethereum. Also rolling out huge changes to the protocol isn't something to be proud of. It shows the lack of immutability.

And currently... miners of BTC run whatever core puts out. Users run whatever is listed on bitcoin.org. If they run and activate segwit... we will see that Bitcoin is quite mutable. I guess you will be quite ashamed when the rewrite of Bitcoin that is segwit, activates.

3. How do we measure the level of centralization or decentralization in anything. If LN is going to be harmful for the scaling of bitcoin then people aren't going to use it.

I agree it's not a measurable variable, nor even really relevant when a small number of megawatt burning warehouses provide the "decentralized" security.

There's a reason Blockstream/Core wants to make on-chain transactions expensive and uncompetitive... they're going to be selling you the medicine for your "disease".

In their arrogance they discount/ignore the fact that there are competitors to the Bitcoin network that will be gleefully sweeping up the transactions and investment that won't fit in an artificially crippled Bitcoin.

Cheers 

[Ted E. Bare]

Bears and trolls waiting to get back in there but no one is willing to sell.

[JayJuanGee]

If we have no external problems and BTC can just hush along as it pleases i expect this rally to be lasting a while. Nevertheless if the blocksize fight escalates again in July it might be the end of this bullish cycle.

I hope that Luke, Adam and Matt will fulfill their promise and deliver the HF code, otherwise we could see some ugly High Noon between chinese miners and Core and you can bet that markets won't like that.

https://www.reddit.com/r/btc/comments/4o2nii/please_bring_a_message_to_those_core_individuals/

I agree with what you said, but I believe in the core devs. and I respect their words, I nearly take their words forgranted.

I believe in the sanity of chinese miners, if prices are as pleasant as they are right now, i expect them to back down a little cause they know about the devastating PR-effects of such a showdown (including a fork, change of Hash and so on and on). In a way the rise in price keeps the problem at bay cause everybody is happy. At least i hope so.

I like your sanity as well

Fakhoury.. .you are agreeing with a guy who is attempting to spread FUCD.. in order to inflate some kind of issue that is either non-existent or barely existent, even though a lot of folks want to scream about it in order to attempt to debilitate bitcoin into some kind of play toy of the banksters... make it like paypal or Ethereum that can be changed whenever you like.

Maybe I didn't read most of what ImI posted but the above post didn't seem FUD for me, tell me please what I've missed ?

Some people continue to keep bringing up this whole scaling issue and to suggest that there is some kind of obligation to either consider a hard fork or an increase in the blocksize limit prior to seg wit coming out. 

It tends to be a kind of discussion that presumes that there are technical emergency problems with bitcoin that have to be fixed right away and also it assumes that governance needs to be fixed in such a way to make bitcoin more easily changed.  I think that those are crap assumptions that are more attempts at creating divisiveness rather than meaningful attempt to discuss what developments are actually positively taking place in bitcoin and continuing to be worked on. 

Sure maybe at some point there will be a need to actually increase the blocksize limit, but seg wit is coming first, and is going to cause a lot of improvements and changes and also there is likely little to no justification for conducting an actual hardfork, unless the situation happens to be noncontroversial.. and at this time, the blocksize increase question seems to be controversial with the vast majority believing that it is not needed at the moment and that seg wit needs to be rolled out first.

[USB-S]

2. Miners agree to any change Vitalik makes. Doesn't matter if it will end up breaking or making ethereum. Also rolling out huge changes to the protocol isn't something to be proud of. It shows the lack of immutability.

And currently... miners of BTC run whatever core puts out. Users run whatever is listed on bitcoin.org. If they run and activate segwit... we will see that Bitcoin is quite mutable. I guess you will be quite ashamed when the rewrite of Bitcoin that is segwit, activates.

However, when ethereum gets stuck in anything, they'll just ask their godess Vitalik. What if Vitalik unknowingly kills his project. At what point does "I didn't know it would do that" come into play?

3. How do we measure the level of centralization or decentralization in anything. If LN is going to be harmful for the scaling of bitcoin then people aren't going to use it.

I agree it's not a measurable variable, nor even really relevant when a small number of megawatt burning warehouses provide the "decentralized" security.

There's a reason Blockstream/Core wants to make on-chain transactions expensive and uncompetitive... they're going to be selling you the medicine for your "disease".

In their arrogance they discount/ignore the fact that there are competitors to the Bitcoin network that will be gleefully sweeping up the transactions and investment that won't fit in an artificially crippled Bitcoin.

Cheers  

The work that these warehouses do is the same everywhere. I don't think that these warehouses are the source of decentralization.

You're talking about crippling bitcoin by keeping the blocksize at 1mb? if so, isn't it good thing to keep spam out as long as we can? I mean bitcoin isn't even competitive with major institutions with its tiny fees.

Also blockchain.info was developing thunder network, which will be competing with LN. So users have a choice of blueberry or orange flavored medicine for their problems.

[JayJuanGee]

Fun fact 1: JayJuanGee keeps all his bitcoin as an entry on an exchange's database while droning on about censorship resistance and the magic nature of the 1MB limit. He doesn't run a node, never has. He's also immune to the irony of this situation.

Fun fact 2: Ethereum is secured by miners, a more decentralized group of miners than Bitcoin too. Changes can't be made to it unless miners agree and run the software that makes the change, same as BTC. Claiming otherwise is spreading FUCD (whatever the fuck that is).

Fun fact 3: When/if Blockstream is able to drive the majority of transactions off chain to LN type payment networks... the well funded and well connected will be running lightning hubs and siphoning fees away from miners, read: centralization and lack of funding for mining security.

1. you don't know shit about other peoples hodlings.

If he has one redeeming quality... it's that he's honest enough that he won't deny it. He's admitted it before, and doesn't claim otherwise when I remind him. I would stop saying it if he would simply type that he runs a node and doesn't keep all his coins on exchanges.

I don't see how my bitcoin related practices are even relevant to various topics at hand, so in this context I'm not even going to discuss what I do or don't do  within this kind of discussion, because it really does not matter in the context of various points that I have made in my recent posts.  

In this regard, in recent posts, I believe that I was merely asserting general principles regarding how bitcoin is more decentralized, immutable and permissionless than Ethereum...  

We do not really need to get into any major compare and contrast of Ethereum  or discuss how potentially wonderful Ethereum is for some of the Ethereum enthusiasts because this seems to be off-topic within a bitcoin discussion thread, last time I checked... so we seem to have beaten the quasi-potentially relevant comparison/contrast aspects of BTC/ETH to death, no?